Greetings from the San Francisco MoneyShow! Long-time readers will likely know how fond I am of this great city, as well as how much I enjoy my face-to-face interaction with investors here at the MoneyShow.
As I write today’s Weekly ETF Report, I am just about to hold my first MoneyShow workshop. Yet before I have to step up to the stage, I wanted to make sure you knew about what’s happening right now in the domestic equity markets.
Now, if I didn’t know better, I would think that we were right back to Y2K in the NASDAQ.
The tech-heavy index now trades back at levels it hasn’t been at in about 15 years, and just this morning the NASDAQ Composite hit a new all-time high. The gains have been fueled by stocks such as Amazon.com (AMZN), Facebook (FB), Google (GOOGL) and Netflix (NFLX), all of which are spiking to respective all-time highs.
The chart here of the PowerShares QQQ Trust (QQQ) shows the spike higher in the 100 largest NASDAQ stocks. Today’s near-1% gain in the index has lifted the Qs to all-time highs, well above their previous March 2000 peak.
How long will this Y2K-like bull spike continue? Will we see stocks in the NASDAQ 100 keep making new highs, or will we see a pullback later this year the way we did last October? That question remains open, answerable only with the benefit of hindsight.
What isn’t an open question is that right now, subscribers to my Successful ETF Investing newsletter have been riding QQQ for months, and we’ve benefitted mightily from being long the biggest and best stocks in the tech world.
If you’d like to find out how you can benefit from the Qs, as well as all of the other ETFs we’re recommending, then I invite you to check out my Successful ETF Investing newsletter today!